Answer:
True
Explanation:
Since the overall inflation is 3%, a rise in income of 3% is necessary to balance off the rise in inflation.
Answer:
The answer is B
Explanation:
In Miller's decision-making process, he needs to recognize the costs and benefits that he will get from replacing the existing the current machinery with the new one and ignore all the cost that had happened (sunk cost) because has already incurred even if Miller chooses to replace or not to replace the current machine. In this case, it is the cost incurred to upgrade the current machine.
For option A, salvage value of the new machinery should be considered as it helps Miller estimates how much money he is going to recover after the machinery's useful life.
For C, salvage value of the current machinery should be considered as it helps Miller estimates how much he will get from selling this current machine as he disposes them to replace with the new one.
For D, Miller will need to know those the replacement result in any cost saving or cost increasing in the future which is part of the benefit or the cost of replacement.
Answer:
There is an opportunity cost to going to the movie and he should leave the movie.
Explanation:
Yes, there is an opportunity cost involved when the person goes for the movie. The opportunity cost will the work that he can do instead of going to the movie. For instance, if the person has the option to study or to watch a movie and he chooses the movie then the opportunity cost is the study. Moreover, he should leave the movie because it is terrible and if he does other work by leaving the movie then he will be benefited because the opportunity cost of doing other work will be lower.
Answer:
In general, the production and use of capital <u>ENHANCES</u> the productivity of labor and normally <u>DRIVES UP</u> wages.
Explanation:
capital refers to tools, machinery or equipment used in the production of goods or services. They all help to increase the productivity of workers. As the productivity increases, so do salaries (generally speaking). For example, a person that paints using a common brush will paint 10 yards per hour, while someone that uses a painting machine will paint 50 yards per hour. Since using a painting machine yields a much higher return, but also requires additional knowledge, the worker is paid a higher wage.
Select an appropriate topic.
Research and gather ideas about the subject.
Make a list of these important facts.
Create an outline that will organize your facts in a logical way.
Write the essay based on the outline you've created.